Rethinking Fintech Distribution In Africa: The Role Of ‘Undiscovered Founders’
Funding for African startups grew 18.5x from 2016 to 2022, with 45% of it attributed to fintech. 75% of all equity funding secured by African fintech startups in 2023 went to just 10 companies.
Wave is Africa’s only startup on Y-Combinator’s list of top earners
Wave is the only African company listed on Y-Combinator's top 50 earning startups in 2024. Wave launched its mobile money product in Senegal in 2018, reducing transaction prices by up to 70% and offering free deposits and withdrawals.
Partech’s record $300 million Africa-focused fund reaches final close despite global funding dip
Partech Africa has closed its second Africa-focused fund, Partech II, at $300 million. The new fund will focus on investing in seed to Series C rounds with ticket sizes ranging from $1 million to $15 million.
